Common use of Percentage Rate Increase Renewal Clause in Contracts

Percentage Rate Increase Renewal. If the Lessee will be allowed to renew this lease so long as he or she pays an additional sum calculated as a percentage of the current rent, then select the fourth statement. (39) Increase As A Flat Dollar Amount. If the Lessee may renew this lease upon its termination and must pay a predetermined dollar amount in addition to the monthly rent as an increase, then select the final statement and record the dollar amount that will be added to the current rent. X. Leasehold Improvements (40) Exceptions To Lessee Improvement Responsibility. Sometimes improvement to a property may be required to remain compliant with any changes in local law, allow the Lessee’s business to remain competitive, or any number of reasons. The Lessor may be responsible for some of these improvements to the leased property or this cost can be covered by the Lessee. This must be settled and documented in Article X by presenting every property improvement that the Lessee will not be required to pay for. XXIV. Governing Law (41) State Law. This agreement can be used in any state so long as it remains compliant, and that state is named in Article XXIV. Review this paperwork, confirm that it obeys the laws of the state where the property is located then, document the name of this state where it is requested. XXV Notices (42)